“As we close the tap on Russian energy, we open the doors to a more diverse range of reliable suppliers,” EU energy commissioner Dan Jørgensen wrote in an op-ed for EUobserver this week.
“And these suppliers know that we are reliable buyers.”
One of those ‘reliable’ suppliers is the US, which provided 57 percent of the EU’s liquefied natural gas (LNG) last year and is on course to supply two-thirds this year, according to IEEFA.
Four out of five overseas gas cargoes arriving in the EU will be American by 2028, the think tank estimates. These expensive cargoes have kept coming in. But how reliable is that supply likely to remain?
US officials have already shown their willingness to use their gas dominance for strategic gain. In March, US ambassador to the EU Andrew Puzder threatened that Europe could lose its favourable access to American LNG if it tried to reopen the ‘Turnberry’ bilateral trade deal.
“In switching from Russia to the US, the EU has jumped from the frying pan into the fire,” Pascoe Sabido, a researcher at Corporate Europe Observatory, wrote in a comment under Jørgensen’s op-ed.
And recent developments prove his point.
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